“how companies innovate” · to foster companies and products that innovate the face of consumer...
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@xrclabs
“How Companies Innovate”
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• XRC Labs
• Trends in Retail
• Corporate Innovation• What is working?
Agenda
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XRC Labs Mission
To foster companies and products that innovate the face of consumer goods and retail in a rapidly changing marketplace
using design thinking as a key driving process.
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Our Values
• Embrace sustainability
• Advocate for moderate consumption
• Endorse economic global well-being
• Demand integrity, honesty, and fairness
• Recognize and nurture excellence in people, technology and products
• Mentor the next generation of innovators
#launchXRC
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Who We Are
XRC Labs is a Consumer and Retail Goods Accelerator creating a one of a kind ecosystem
StartupsMentors
Retailers Brands
Venture Capital
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Our Model
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Growing Strategic Innovation Partnerships
November 7th & 8th – by invitation only
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Cohort 6 Applications
Total applications received
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A Growing Diversity of Start-ups
United States 60%India 6%United Kingdom 5%Canada 3%Israel 2%Italy 2%Germany 2%Nigeria 2%Other 8%
Top 7 Countries Represented(% of total applications)
40%
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In the XRC Portfolio
46%of all XRC companies
have female CEOs
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World Class Industry Sponsors
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Trends in Retail
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Losing years of market share LookRetailers are Struggling to Keep Up with Consumer Shopping Behavior
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The Hollowing Out of the Retail Middle
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16
Losing years of market share LookLosing Market Value Over the Last Five Years
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Scarcity is the New Inventory
CNY
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Loyalty is Not Just About Points
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The Store Experience is Accelerating
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Innovation Orgs that Fail
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What do these companies have in common?
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2011 — Google to GM —Partner?
10 different 100-mile routes on public roads
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2012
“I don’t see the point” –Sr GM Executive
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A true about face
$581MM
40 people
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Today — Morgan Stanley Analyst
+
+>
$178 Billion
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What changed?
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What business is GM in?
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Massive Fail - Innovation Dept / Group…
$$$$$$$$ +
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Massive Fail - Business lines do their own thing
• Silos of innovation
• Massive redundancies
• No communication
• Many avoidable failures
• Or — No innovation
Business / Dept’s
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Innovation Org failure
Innovation Org vs Business
• “We are innovative, you are not”
• “We are special, you are not”
• “We do what we want to do, regardless of your needs”
• “We do cool things, you do boring things”
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Innovation that works
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Innovation Councils — Hybrid
• Shared budget and goals• Business ownership of priorities• Eliminates redundant effort• Removes silos, spurs communication• Common processes• One company, one team
Innovation Council
Marketing
E-commerce
Supply Chain
Store Ops
Analytics
PlanningStrategy
CEO
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Hallmarks of an Innovative Culture
Across Business Processes
• Legal
• IT
• HR MBO’s
• Time
— pilot agreements vs msa’s
— pilot vs production architectures
— Is learnings one of them?
— Is time more important than money?